5 Best Inflation-Proof Stocks

4. Newmont Corporation (NYSE:NEM)

Number of Hedge Fund Holders: 55  

Newmont Corporation (NYSE:NEM) is a mining firm with core interests in gold. During times of inflation, mining and gold stocks tend to benefit the most as people run to the metal as a savings vehicle. Newmont is one of the most stable and well-known companies in this realm. It recently declared a quarterly dividend of $0.55 per share, in line with previous. The forward yield was 3.8%. 

On September 24, KeyBanc analyst Adam Josephson initiated coverage of Newmont Corporation (NYSE:NEM) stock with a Sector Weight rating, noting the leverage the firm had on a long-term gold bull market. 

At the end of the second quarter of 2021, 55 hedge funds in the database of Insider Monkey held stakes worth $1.2 billion in Newmont Corporation (NYSE:NEM), up from 43 in the preceding quarter worth $994 million. 

In its Q1 2020 investor letter, First Eagle Investment Management, an asset management firm, highlighted a few stocks and Newmont Corporation (NYSE:NEM) was one of them. Here is what the fund said:

“The gold price helped support the stock price of Newmont Corporation, a Colorado-based miner with, in our view, highquality assets located in favorable mining jurisdictions in North America, South America, Australia and Africa. With what we consider an impressive portfolio of assets, strong management team, solid balance sheet and history of generating free cash flow, Newmont appears well positioned to withstand the economic disruptions related to the coronavirus pandemic.”